KLP Kapitalforvaltning AS Acquires New Position in Core & Main, Inc. (NYSE:CNM)

KLP Kapitalforvaltning AS acquired a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 39,000 shares of the company's stock, valued at approximately $1,985,000.

A number of other large investors have also recently made changes to their positions in the company. US Bancorp DE grew its holdings in Core & Main by 12.3% during the 4th quarter. US Bancorp DE now owns 1,795 shares of the company's stock worth $91,000 after acquiring an additional 197 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Core & Main by 4.8% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company's stock worth $286,000 after purchasing an additional 258 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after purchasing an additional 271 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Core & Main by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock valued at $299,000 after buying an additional 287 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Core & Main by 0.6% in the fourth quarter. Arizona State Retirement System now owns 55,910 shares of the company's stock valued at $2,846,000 after buying an additional 360 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

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Core & Main Stock Performance

NYSE CNM traded up $1.05 during trading on Tuesday, reaching $49.36. The company's stock had a trading volume of 3,213,500 shares, compared to its average volume of 2,277,864. The business's fifty day moving average price is $51.58 and its 200-day moving average price is $49.07. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm earned $0.34 EPS. The business's revenue was up 17.9% on a year-over-year basis. As a group, analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Transactions at Core & Main

In other Core & Main news, EVP John R. Schaller sold 60,452 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the transaction, the executive vice president now owns 17,898 shares in the company, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now owns 7,667 shares of the company's stock, valued at approximately $387,106.83. The trade was a 86.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,294 shares of company stock worth $9,383,685 over the last 90 days. 3.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Tuesday. They set a "buy" rating and a $60.00 price objective for the company. The Goldman Sachs Group upped their price target on Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, December 5th. Citigroup raised their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Loop Capital boosted their price objective on shares of Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada dropped their target price on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $57.55.

Core & Main Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.